The Singapore tournament will be held at the 55,000-capacity National Stadium, which is part of the new Singapore Sports Hub.
Next season's sevens circuit features 10 stops and will enjoy increased profile as it leads up to rugby sevens' Olympic debut in Rio de Janeiro.
Low Teo Ping, President of the Singapore Rugby Union, feels that the tournament has the capacity to match those held around the world.
"We truly believe that our event at the iconic National Stadium has the potential to match the excitement surrounding current tournaments in the Series," he said
The Singapore Rugby Union's bid was targeting a further growth of rugby across Asia.
"Engaging rugby in Asia and growing the sport in Singapore is our prime vision for the tournament," Low said.
"The key associated events and community outreach as part of this tournament will be critical to the long-term sustainability of rugby as we strive to ignite passion in the next generation of players and fans in Singapore, Southeast Asia and ultimately across Asia."
Participation in rugby in Asia continues to grow all the time with 445,000 men, women and children actively enjoying the sport, an increase of nearly one-third over four years.
World Rugby CEO Brett Gosper said that Asia is the 'heart of sevens rugby' and it was necessary to have another location in Asia for the expanding world event.
"I am sure Singapore, with its major event experience and passion, and superb new stadium, will become a fan and team favourite on the record-breaking World Rugby Sevens Series."